In line with its strategic objective of transforming lives through financial inclusion, leading integrated communications service provider Safaricom has announced a targeted reduction of transaction fees levied by the operator on its most popular person to person M-PESA transaction bands. The new tariffs, which are set to take effect from Thursday 21st August, 2014, will
The Ministry of Finance is in the process of developing a financial inclusion strategy to ultimately increase access to financial services. The Ministry will also work closely with the Bank of Ghana and the private sector to find a lasting solution to challenges of the retail payments system. Hon. Mona Helen Quartey, Deputy Minister for
Nomanini announced that informal vendors and micro-entrepreneurs across Africa have made a million cash transactions using its tough terminal. The South African-based mobile Point of Sale platform was created to enable cash transactions in emerging markets. It has proven popular for the distribution of mobile prepaid airtime and electricity with plans to enable other transactions,
Coremobile has launched Quick Airtime, an online platform for secure airtime recharge, mobile top-up and prepaid re-up in Nigeria, which it said is the fastest and simplest online recharge platform in the world. “Users can choose between Interswitch, PayPal, Google-Wallet, Verified by Visa and Etranzact. It is important for users to have options, but most
MoboFree.com, the leading African social marketplace, announced that the total volume of items currently for sale in its marketplace is worth USD 526 million and is expected to reach USD 1.5 billion by 2015. With 3.3 million registered users, including 2 million in Nigeria and a strong footprint in Zimbabwe, Uganda and Ghana, MoboFree.com is
To further deepen the use of ATM as alternative channel for banking transactions in Nigeria and in line with its Corporate Social Responsibility leaning towards enriching lives, Sterling Bank has commenced a four-week pan Nigeria ATM Activation at selected ATM locations. The locations for the four-week programme will include Lagos which is currently running, South-West
Kenya’s Co-operative Bank has launched a mobile banking service, allowing customers to conduct all their banking via their phones. The service – named M-Co-op Cash – will enable customers to open bank accounts, apply for loans, transfer funds, make utility payments, top-up airtime, as well as make mobile cash withdrawals, reports Business Daily. The bank
Zain Group, a pioneer of mobile telecommunications in eight markets across the Middle East and Africa, announces that its mobile operation in Sudan has launched the country’s first ever mobile Mobile Financial Service called ‘Hassa’, in partnership with the Bank of Khartoum. The easy, instant and secure service allows all Zain customers in Sudan to
First National Bank and NCR Corporation, the global leader in consumer transaction technologies, won the award for “Best ATM and Kiosk Project in Africa”, at The Asian Banker’s Middle East and Africa Country 2014 Award ceremony. FNB was the only bank in Africa to win an award in this category and was joined at the
Nigeria’s government owned central bank has announced the reintroduction of charges on remote-on-us automated teller machine cash withdrawals, with every withdrawal performed on an ATM belonging to a bank differing from the cardholder’s bank to carry a NGN65 fee. The Central Bank of Nigeria announced the change via a document posted on its website, saying
